Common use of Title to and Condition of Assets Clause in Contracts

Title to and Condition of Assets. (a) Except as may be reflected in the Seller Financial Statements and with the exception of all "Real Property" (which is the subject of Section 2.08 hereof), Seller and the Seller Subsidiaries have, and at the Closing Date will have, good and marketable title to their owned properties and assets, including, without limitation, those reflected in the Seller Financial Statements (except those disposed of in the ordinary course of business since the date thereof), free and clear of any Lien, except for Liens for (i) taxes, assessments or other governmental charges not yet delinquent, (ii) as set forth or described in the Seller Financial Statements or any subsequent Seller Financial Statements delivered to Buyers prior to the Effective Time, and (iii) pledges to secure deposits and other Liens incurred in the ordinary course of business.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Mercantile Bancorporation Inc), Agreement and Plan (Mercantile Bancorporation Inc)

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Title to and Condition of Assets. (a) Except as may be reflected in the Seller Financial Statements and with the exception of all "Real Property" (which is the subject of Section 2.08 hereof), ) Seller and the Seller Subsidiaries have, and at the Closing Date will have, good and marketable title to their owned properties and assets, including, without limitation, those reflected in the Seller Financial Statements (except those disposed of in the ordinary course of business since the date thereof), free and clear of any Lien, except for Liens for (i) taxes, assessments or other governmental charges not yet delinquent, delinquent and (ii) as set forth or described in the Seller Financial Statements or any subsequent Seller Financial Statements delivered to Buyers prior to the Effective Time, and (iii) pledges to secure deposits and other Liens incurred in the ordinary course of business.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Unified Holdings Inc), Agreement and Plan of Merger (Mercantile Bancorporation Inc)

Title to and Condition of Assets. (a) Except as may be reflected in the Seller Financial Statements and with the exception of all "Real Property" (which is the subject of Section 2.08 hereof), ) Seller and the Seller Subsidiaries have, and at the Closing Date will have, good and marketable title to their owned properties real and assetspersonal property, including, without limitation, those reflected in the Seller Financial Statements (except those disposed of in the ordinary course of business since the date thereof), free and clear of any Lien, except for Liens for (i) taxes, assessments or other governmental charges not yet delinquent, delinquent and (ii) as set forth or described in the Seller Financial Statements or any subsequent Seller Financial Statements delivered to Buyers prior to the Effective Time, and (iii) pledges to secure deposits and other Liens incurred in the ordinary course of business.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Homecorp Inc)

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Title to and Condition of Assets. (a) Except as may be reflected in the Seller Financial Statements and with the exception of all "Real Property" (which is the subject of Section 2.08 hereof), ) Seller and the Seller Subsidiaries have, and at the Closing Date will have, good and marketable title to their owned properties and assets, including, without limitation, those reflected in the Seller Financial Statements (except those disposed of in the ordinary course of business since the date thereof), free and clear of any Lien, except for Liens for (i) taxes, assessments or other governmental charges not yet delinquent, (ii) non-monetary encumbrances that do not interfere with the use of the property for the business conducted thereon and (iii) as set forth or described in the Seller Financial Statements or any subsequent Seller Financial Statements delivered to Buyers Buyer prior to the Effective Time, and (iii) pledges to secure deposits and other Liens incurred in the ordinary course of business.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Allegiant Bancorp Inc)

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